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Cyprus News Agency: News in English, 07-07-09
CONTENTS
[01] CYPRUS - EURO - ECOFIN
[01] CYPRUS - EURO - ECOFIN
Cypriot Minister of Finance Michalis Sarris has left for Brussels to
participate in Tuesday`s ECOFIN, which will fix the irrevocable
exchange rate of the Cyprus pound against the euro. The decision on the
conversion rates must be taken by unanimity of the euro area member
states plus the member states concerned on a proposal from the
Commission.
Sarris has said that as soon as the irrevocable exchange rate of the
Cyprus pound against the euro is fixed, the government will begin a
campaign to inform public opinion about the introduction of the euro,
on 1st January 2008. The dual display of prices in Cyprus will
officially start on September 1.
EU Finance Ministers will be briefed about the priorities of the
Portuguese Presidency on issues of financial policy. They will also
discuss the evaluation of Austria`s revised stability programme and the
Czech Republic`s revised convergence programme. They will be briefed on
the course of Hungary being removed from the excessive deficit process
and will exchange views on the better functioning of the Stability and
Growth Pact and the funding of the Galileo programme.
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